enGene Holdings is working on a treatment for NMIBC, showing promising early data. The company is aiming for an approval similar to IBRX's Anktiva, but without BCG co-administration. Despite the unmet need in NMIBC, the FDA may not grant approval based solely on single-arm data. However, enGene's favorable financial position and current stock price suggest a positive outlook, leading to a likely short-term price increase.